A conventional office lease is formed when a tenant rents directly from a landlord, who agrees rights to their property for a period of time according to certain conditions.
Key features of a conventional office lease:
If you are able to commit to a longer term, and have the resources and budget to support all associated costs, a conventional lease gives you the freedom to create an individually tailored office to match your brand.
A sublease is formed when the tenant grants a secondary office lease (with the freeholder’s permission) to a third party – a subtenant. This subtenant might also be permitted to sublet to another, and so on. Chains of tenancy can therefore be complex!
Subleases can be offered either:
Usually all subtenants will be bound to the original terms of the first lease, and these are non-negotiable.
Taking a sublease can be cost effective – even in the short term – but they can be hard to find and involve taking the office and lease ‘as is’. Formalising the agreement can also take a substantial amount of time due to the complexities involved, and we would always advise that you have a solicitor act on your behalf.
Workshops and industrial units are simple, easy to build units that offer a range of business uses, including:
These units typically include roller shutter doors, pre-installed goods lifts, loading bays, CCTV, parking and self-contained bathroom and kitchenette facilities.
In many cases they have their own integrated offices, providing businesses with a quick and flexible part-workshop/part-office solution.
Workshops and industrial units are rented on similar terms to a conventional office lease, however more flexible terms are available. It is also possible to rent multiple units, giving your company the ability to easily upsize or downsize as required.
We would always advise that if you decide to take a lease, sublet, or workshop unit you always have a shortlist of serviced offices to fall back on should anything go wrong during the final stages – as there are so many points to negotiate.
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